MIT Faculty Insight Series
24 May 16
The Power of Resilience: How the Best Companies Manage the Unexpected
Prof. Yossi Sheffi
Director of MIT CTL
Elisha Gray II Professor of Engineering Systems
Massachusetts Institute of Technology
24 May 2016: Professor Yossi Sheffi gave a dynamic lecture at Sasana Kijang, followed by a book signing of his latest book: “The Power of Resilience: How the Best Companies Manage the Unexpected”.
A catastrophic earthquake is followed by a tsunami that inundates the coastline, and around the globe manufacturing comes to a standstill. State-of-the-art passenger jets are grounded because of a malfunctioning part. A strike halts shipments through a major port. A new digital device decimates the sales of other brands and sends established firms to the brink of bankruptcy. The interconnectedness of the global economy today means that unexpected events in one corner of the globe can ripple through the world’s supply chain and affect customers and businesses everywhere.
Prof Sheffi, explained why modern vulnerabilities call for innovative processes and tools for creating and embedding corporate resilience and risk management. Quoting case studies covered in his new book, The Power of Resilience: How The Best Companies Manage The Unexpected Prof. Sheffi explained the various approaches companies have taken to prepare for, cope with, and come out stronger following disruption to their business.
Prof. Yossi Sheffi’s Bio: http://scm.mit.edu/bio/sheffi
Opening remarks made by:
- Prof. Charles Fine
President and Dean
Asia School of Business
- Prof. David Gonsalvez
CEO & Rector
Malaysia Institute for Supply Chain Innovation